IsDB urges MENAP countries to boost economic resilience and private investment

The Islamic Development Bank (IsDB) Group has urged countries across the Middle East, North Africa, Afghanistan and Pakistan (MENAP) region to strengthen economic resilience, address structural challenges and attract private investment to support sustainable growth.

IsDB Group Chairman Dr. Muhammad Al Jasser outlined the priorities during the MENAP Ministers and Governors’ Meeting with the managing director of the International Monetary Fund (IMF), held on the sidelines of the World Bank Group and IMF meetings in Bangkok, Thailand, according to an IsDB statement.

Al Jasser identified four key priorities: maintaining macroeconomic stability, addressing structural economic weaknesses, mobilizing private capital and strengthening regional integration.

He stressed the need to rebuild fiscal and external financial buffers to help countries withstand economic shocks, while investing in infrastructure, human capital and economic diversification.

He also highlighted the importance of private-sector investment, stronger partnerships and innovative financing mechanisms in driving development.

On regional cooperation, Al Jasser called for improved connectivity and stronger trade and investment ties to develop regional value chains and create opportunities for sustainable growth.

The IsDB Group said it has approved nearly US$100 billion cumulatively for member countries across the MENAP region, reaffirming its commitment to supporting more diversified, resilient and inclusive economies.

The meeting brought together regional finance ministers, central bank governors and international financial institutions to discuss economic challenges and policy priorities.